Senator Fiona O’Loughlin welcomes the expansion the Local Authority Home Loan scheme

Fianna Fail Senator Fiona O’Loughlin has welcomed the announcement by the Minister for Housing, Local Government and Heritage Darragh O’Brien TD of a newly expanded Local Authority Home Loan scheme.

Senator O’Loughlin said, “Supporting home ownership is a key objective for this Government. In Housing for All, our new Plan for housing in Ireland we as a Government and as a party committed to introducing a reformed Local Authority Home Loan scheme to further support access to homeownership for creditworthy homebuyers who otherwise find it difficult to access sufficient finance.”

“I am pleased to be informed by the Minister that the new regulations will make it easier for single people to avail of a State backed mortgage for a new, second-hand or self-build home. I believe the ‘Fresh Start’ principle, which is something we have being discussing within the party for some time, will broaden the opportunities for people who are divorced or separated and have no interest in the family home, or who have undergone insolvency proceedings.”

Fiona concluded “Every week I speak to would be homeowners who have good jobs, good income and good credit, but due to bank lending limits they are unable to get their foot on the property ladder, so I am happy to see Minister O’Brien listening to my calls and taking action on this.”